Tag Archives: entrepreneur

Practical Help for Entrepreneurs

Business Success, , ,

“I read your column last week about the perfect business and I think that I have a great idea which would make a profitable venture. The problem is that I don’t know the best way to get started. I want to establish my business properly but I need some guidance to make sure I’m doing the right things. Do you have any advice for someone starting a new business?”

One of the biggest challenges facing prospective business people is not a shortage of creative ideas, but the lack of know-how to transform their dreams into viable opportunities. Sometimes, bridging the distance between a great idea and its realization may seem as difficult as climbing to the top of the Blue Mountains.

I can relate to the difficulties that face a new entrepreneur who is trying to start out with little more than a Big Idea. Many years ago I had an inspiration that I was sure would revolutionize the tourist-wear market and make me a lot of money. I secured some financing, went into production and brought my dream into reality. Continue reading Practical Help for Entrepreneurs →

Working For Love and Money

Money & Your Mind, , ,

“I make a good living as a lawyer and I’ve saved up a reasonable amount of money over the years. The problem is- I don’t enjoy my work. I really want to be a creative writer, but writing can’t pay my bills. I would like to find a way to be able to work at what I love and still be able to achieve my financial goals.”

For many people, a job is merely a means to an end – getting a paycheck to pay their bills. It can feel like an empty existence when 40 hours per week of your life brings little personal fulfillment. Then there are some who are so passionate about their calling, that they ignore the fact that the job isn’t meeting their financial needs, until a penniless retirement looms in their future.

Is it possible to have the best of both worlds- to work for love and for money?

Continue reading Working For Love and Money →

Create Your Own Income

Income Creation, , ,

“I left college a year ago, and I still can’t find a job suitable for my qualifications. I’m really getting frustrated now, as I desperately need to reduce my student loan. I’m trying to think of other ways to make money, but it seems so hard to find a profitable business opportunity. Any ideas on how I can create my own income?”

When we think of earning an income, we generally consider finding employment with an established company, where we hope to get a good salary and great benefits. In fact, from an early age, most of our parents had drilled into our heads, “work hard at school and get good grades, so that you can get a nice job.”

For others, income generating takes a different path. Some, who are blessed with an entrepreneurial spirit, will immediately set out to create their own income, in turn providing jobs for many others. Then there are some people, like you, who are forced out of necessity to find other ways to earn money when the traditional job is not forthcoming.

Whatever the road you may travel to earning your own income, the rules are basically the same. There are three main ways to successfully create sustainable income: Continue reading Create Your Own Income →

Success in Business

Business Success, , ,

“Last year, I started my own small catering business. It’s always been my dream to do my own thing, but I’m wondering if I have what it takes to be successful in business. It’s really financially challenging right now to make ends meet. I need some assistance in organizing my business, but I don’t know where to turn. Help!”

Being your own boss is one of the most desired goals on many persons’ financial wish lists. We dream of having the chance to do what we’re really passionate about, instead of working just to pay the bills. We are sure that if we could only get the chance to do things our way, we would be fulfilled and wealthy.

The reality is that owning your own business is tough. Many of the skills needed for success in business are rarely learned in the classroom, they are mostly gained in the battlefield of experience. Many highly successful entrepreneurs will point to several failed business ventures, until they finally got it right.

So how can we increase the odds of operating a profitable business? Continue reading Success in Business →

Starting a Small Business

Business Success, , , ,

“I hate my nine-to-five job, and I would love to work in a business of my own. I’ve always dreamt of one day leaving a large, vibrant company for my son to carry on, to give him a good start in the world. I opened a wholesale shop once, but I ended up losing a lot of money.

“I would like to start another venture, but don’t think I can afford to fail again. What can I do to guarantee success in business?”

It’s wise for you to approach starting a business with some amount of caution. A business venture can be a potentially profitable form of investment, and it’s probably the route to eventually achieving financial freedom. Unfortunately, there are many stories of people who have gone into business and lost a lot of money, even ending up seriously in debt.

Even though the failure rate is high for start-up businesses, it is possible for you to eventually achieve your dream if you approach it with careful planning. Here are some factors to consider for your next business idea: Continue reading Starting a Small Business →